Advisors for Ridgeview Estate Winery are in talks with a potential buyer after the family-owned UK business went into administration.
The sparkling wine producer, set up in 1995 by Mike and Chris Roberts, “will continue trading under administration while a sale of the business is completed to a prospective buyer”, a statement provided to Just Drinks from administrators FRP Advisory read.
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“The administrators are commencing a completion process for a sale to an interested party and secured funding to maintain operations during the sale process.”
FRP Advisory confirmed Ridgeview Estate Winery filed for administration on 22 September but added the existing management team would remain in place to “ensure business as usual for customers and trade partners”.
Just Drinks has asked FRP Advisory for an update on any progress that may have been made with the prospective buyer since the start of the administration process, which is being led by Phil Harris and Neville Side.
Operations at the Ditchling Common, East Sussex-based winery will continue during those proceedings, according to the statement.
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By GlobalDataThe company produces wines under the Ridgeview brand from its estate in the South Downs National Park.
A notice on Companies House at the time of writing said Ridgeview Estate Winery’s financial accounts for the year to 31 December 2024, due by the end of September, were “overdue”.
While FRP Advisory provided a statement to Just Drinks, it had not addressed an enquiry for the reasons behind the winery’s decision to file for administration.
Ridgeview Estate Winery had fixed assets of £10.7m ($13.9m) as of the 12 months to 31 December 2023, a separate filing with Companies House showed. Net assets after total liabilities stood at $2.3m.
Phil Harris, a partner at FRP Advisory, said in the statement: “Ridgeview is a highly respected name in English wine production with an excellent reputation built over many years. We’re pleased to have secured funding to continue operations and are working closely with the prospective buyer to complete the sale process.
“Our priority is to maintain business as usual for customers, suppliers, and the wider trade while we progress the sale.”
